Recommended Posts

Not sure that the economics are there to support it. And I just don't have that much confidence in the developer based on what I've seen and heard. Not saying I don't hope it doesn't happen as proposed - I do. I just don't have much confidence it will.

Share this post

Link to post

Share on other sites

I see more people in downtown Orlando, and in Thornton Park, on any given day than I've ever seen in it's history and more than any other downtown in Florida. How is there not a demand in the marketplace for a 23 story residential tower across the street from Lake Eola?

Edited April 2, 2015 by prahaboheme

1

Share this post

Link to post

Share on other sites

I see more people in downtown Orlando, and in Thornton Park, on any given day than I've ever seen in it's history and more than any other downtown in Florida. How is there not a demand in the marketplace for a 23 story residential tower across the street from Lake Eola?

The demand is there but I would imagine the developers from out of town aren't sure how long it can sustain at the current price point. You have to get this thing built and sold before the economy slows down or you are in real trouble.

Share this post

Link to post

Share on other sites

Sooner or later, someone will figure out how to do it. If not, we can always hope for Novarre to move on the phase 2 of Skyhouse.

Phase 2 for skyhouse? That isn't a thing, is it? As far as the economy is concerned, don't we have a very low inventory for apartments and condos? Not sure about office space, but I think it's the same.

Between DPAC and Orlando city soccer there seems to be a new energy downtown. Throw in some future stimulating projects like the magic entertainment district and creative village, and we're in such a better place then in 2006 & 2007 when monster residential units were being proposed every other day. Not making a comparison really, just saying.

Of the current proposals, and recent projects finished or finishing up skyhouse, steelhouse, NORA etc. What's the apartment to condo ratio? Are we too one sided here? Is the tower proposed on Jefferson condos it apartments?

There seems to be a gap once you eliminate the Skyhouse's when it comes to high-rise buildings in the south. Not including Miami of course.

Sooner or later, someone will figure out how to do it. If not, we can always hope for Novarre to move on the phase 2 of Skyhouse.

The Paramount is an apartment building at this point and I don't see that changing back to condos. It was originally built as condos but aside from a few units the whole building is managed apartments.

Share this post

Link to post

Share on other sites

Yeah I don't know what the appropriate ratio is. 50/50 is probably fine.

My comment is namely on new projects. All the condos are circa 2007 and later. Everything new or proposed is apartments.

I just hope the decisions being made are strategic, and not defensive. Meaning they are following evidence based practices as far as building a downtown community goes. Versus developers simply being gun shy post real estate bubble. It feels like the latter is more likely true.

Share this post

Link to post

Share on other sites

Talked to a developer who is doing a lot around town and condos are always the last piece to come online in a boom so don't expect condos for a bit still. I think a lot of developers learned their lesson last round and will be even more cautious building them.